This will make your transaction experience even better. If you use Google Pay, PhonePe or any UPI platform, then now your experience will be better than before. Know here what changes have been made in the UPI system and how it will work now.

What’s the change?

From now on, UPI payments will become even faster, more reliable and smarter. NPCI (National Payments Corporation of India) has launched a major upgrade in the UPI system. This will increase the speed of transactions by 66 percent. Payment failures or refunds will be much faster than before. The entire process will become more streamlined and secure.

How fast will the service be?

According to NPCI, the time taken to send a payment and receive a response has been reduced from 30 seconds to 15 seconds. If the transaction fails, the refund will now be done in just 10 seconds. Tasks like status check and address verification will now be done in just 10 seconds.

Why was this upgrade necessary?

Crores of transactions are done on UPI every day. With so much traffic, the system gets overloaded and sometimes payments get stuck or arrive late. Now NPCI has made such improvements at the technical level that these problems will be eliminated to a large extent.

Which apps will benefit?

These improvements will apply to all UPI service providers. This includes Google Pay, PhonePe, Paytm UPI, BHIM, WhatsApp UPI and all banking UPI apps.

This means that any app user will now be able to enjoy a faster and more reliable payment experience than ever before. Users will no longer have to deal with transaction failures and long waits for refunds. The system will also be more stable and easier for banks and payment service providers.

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Nowadays, the use of cash has reduced to a great extent. Now people make digital payments for every small and big transaction. Today, crores of transactions take place daily in the country through UPI i.e. Unified Payments Interface. Through UPI payment, money is transferred from one account to another in just a few seconds.

But sometimes people transfer money to the wrong people’s accounts. Due to which they have to face trouble. But now this will not happen. NPCI i.e. National Payments Corporation of India has issued a rule related to UPI. Let us tell you what this rule is.

NPCI brought new rule regarding UPI payment

National Payments Corporation of India i.e. NPCI has come up with a new rule. Under which your money will not go into wrong hands. Let us tell you that through UPI, P2P i.e. Peer to Peer and P2PM i.e. Peer to Peer Merchant. On doing any kind of transaction, now only the name of the account holder will appear which will be registered in CBS i.e. Core Banking System.

This means that while making payment, you will see the name that is registered in the bank account. Even if that person’s number is saved in your phone with any other name. Sometimes due to people having different names, confusion occurs and due to this money goes to wrong accounts. But now this will not happen. This new rule will be implemented for all UPI apps from 30 June 2025.

What if money from UPI goes to the wrong account?

Sometimes, even when you make transactions with utmost caution, something goes wrong. If you have also sent money to someone else’s account by mistake, then first you have to contact that person and tell him that you have sent money to his account by mistake. In such a case, the chances are very less that he will return your money. But sometimes the money is returned.

If that person is not returning your money, then you can lodge a complaint in your bank that the money has gone to the wrong account. Apart from this, you can lodge a complaint about this by calling on toll free number 18001201740. You can also lodge a complaint about this on the NPCI portal.

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Under this, banks will regularly delete those mobile numbers which have been closed or have been issued to someone else. The purpose of this step is to prevent wrong transactions and make UPI transactions more secure.

Why are these new rules being implemented?

In the meeting of NPCI held on 16 July 2024, it was decided that banks and payment service providers (PSPs) will have to update their systems at regular intervals. Now banks and UPI apps will update the list of mobile numbers every week, so that erroneous or unsuccessful transactions can be reduced.

What do UPI users need to keep in mind?

UPI apps will now seek your consent to update the number. You will get a clear option to opt-in in the app. This means that your number will be updated only when you give your consent. There will be no misleading or forceful consent messages in the UPI app. If the user does not update the number, the facility of receiving money from UPI may be stopped.

New rules for banks and UPI apps

All banks and UPI service providers will have to follow these guidelines by March 31, 2025. From April 1, 2025, they will also have to submit a monthly report to NPCI, which will include this information.

• Total UPI IDs linked to mobile numbers.
• Number of active UPI users every month.
• Transactions done through updated mobile numbers.
• Locally resolved UPI number-based transactions.

What will be the impact of the new rules?

This change will reduce the problem of sending money to the wrong number and UPI transactions will become more secure and easy. Banks and UPI apps will update the mobile number every week, which will reduce the risk of wrong or failed transactions to a great extent. If you use UPI, keep getting updated information from your bank and UPI apps, so that you do not have to face any problem.

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Under this, banks will regularly delete those mobile numbers which have been closed or have been issued to someone else. The purpose of this step is to prevent wrong transactions and make UPI transactions more secure.

Why are these new rules being implemented?

In the meeting of NPCI held on 16 July 2024, it was decided that banks and payment service providers (PSPs) will have to update their systems at regular intervals. Now banks and UPI apps will update the list of mobile numbers every week, so that erroneous or unsuccessful transactions can be reduced.

What do UPI users need to keep in mind?

UPI apps will now seek your consent to update the number. You will get a clear option to opt-in in the app. This means that your number will be updated only when you give your consent. There will be no misleading or forceful consent messages in the UPI app. If the user does not update the number, the facility of receiving money from UPI may be stopped.

New rules for banks and UPI apps

All banks and UPI service providers will have to follow these guidelines by March 31, 2025. From April 1, 2025, they will also have to submit a monthly report to NPCI, which will include this information.

• Total UPI IDs linked to mobile numbers.
• Number of active UPI users every month.
• Transactions done through updated mobile numbers.
• Locally resolved UPI number-based transactions.

What will be the impact of the new rules?

This change will reduce the problem of sending money to the wrong number and UPI transactions will become more secure and easy. Banks and UPI apps will update the mobile number every week, which will reduce the risk of wrong or failed transactions to a great extent. If you use UPI, keep getting updated information from your bank and UPI apps, so that you do not have to face any problem.

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Digital payment systems like Unified Payments Interface (UPI) have revolutionized the way transactions are done. They have eliminated the use of cash in most cases by allowing one to scan a QR code and transfer the desired amount directly to the bank amount. From street vendors to retail chains, UPI is now everywhere in India because it makes

transactions so easy. Even after that, many times due to wrong type of UPI ID, the money gets transferred to someone else. We will also tell you what to do in such a situation so that your money can be recovered.

If money is transferred using wrong UPI ID

However, UPI is a safe payment system. Even after that, small mistakes made by you can cause financial loss. Entering wrong UPI ID and accidentally transferring money to someone else’s bank account are among the mistakes you might have faced. In such circumstances, most of us get nervous but according to Reserve Bank of India, by taking the right steps, you are recovering the money transferred to another account by entering wrong UPI.

You can recover your money in this way

According to RBI, it is said that in case of unknowing transaction through digital services, the victim should first lodge a complaint in the payment system used.

You can take help from the customer care of applications like Paytm, Google Pay and PhonePe and request a refund.

If the payment system fails to resolve your issue, you can contact the Ombudsman for Digital Transactions set up by the RBI.

Complaint can be filed when the payment system does not timely comply with RBI instructions related to payment transactions through UPI, Bharat QR Code and others, such as failure to credit funds to the beneficiaries’ account or within reasonable time. Failure to return the amount within.

Anyone can complain to the Ombudsman when funds are wrongly transferred to the beneficiary’s account.

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At the same time, UPI has changed the entire structure of traditional transactions of the country. After seeing the success of UPI in India, many other countries of the world are also adopting this payment system in their countries.

Today most of us are using UPI for transactions. Have you ever considered the question that how much money can be transferred through UPI in a day? If you do not know about this then today we are going to tell you about this. Let us know –

According to NPCI, you can transfer a total of up to Rs 1 lakh through UPI in a day. It is worth noting that currently many people are using service provider apps like Google Pay, Phone Pay, Amazon Pay etc. to transact through UPI.

If you transact through UPI through these service providers. In such a situation, you should be aware that through these platforms you cannot transact more than the daily limit of Rs 1 lakh set by NPCI.

For your information, if you register on Amazon Pay. In such a situation, you can transact only up to Rs 5,000 in the first 24 hours of registration.

You can transact up to a daily limit of Rs 1 lakh after 24 hours. If you transact through UPI. In such a situation, you should be aware of this information.

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In view of the increasing cases of financial fraud through digital transactions, Modi government is going to bring a big scheme. The government is going to introduce a security measure on digital payments to reverse transactions within four hours. Under this, for the first time a limit of 4 hours is likely to be imposed for digital transactions of more than Rs 2,000, including IMPS, RTGS and UPI.

“For the first time, we are considering adding a four-hour time limit for digital transactions above Rs 2,000,” a senior government official has said. “The Reserve Bank of India, various public And will be discussed during a meeting on Tuesday with government and industry stakeholders, including private sector banks and technology companies like Google and Razorpay.

The official also said, “After making a payment to someone for the first time, you will have four hours to reverse or modify the payment. This will be on the lines of NEFT (National Electronic Fund Transfer), where the transaction takes place within a few hours. It happens.”

“Initially we did not want to have any amount limit, but through informal discussions with the industry, we realized that this could impact small purchases like groceries etc. So we are limiting the amount to less than Rs 2,000,” he said. We are planning to give exemption for transactions of Rs.

Let us tell you that when a user creates a new UPI account, he can send up to Rs 5,000 in the first 24 hours. Same is the case with NEFT, where a maximum of Rs 50,000 can be transferred to the beneficiary in the first 24 hours after it is activated.

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In this era of mobile revolution, you pay online for small to big purchases. There was news about UPI payment that it is going to be expensive. Transactions above Rs 2,000 will attract a charge of 1.1 per cent. UPI payment means if you pay more than 2 thousand rupees through digital medium like Google Pay, Phone Pay and Paytm, then you may have to loose a little more pocket, but in this a little There are screws. If you make bank account linked payment then nothing has changed for you.

When will the UPI payment be charged?

The National Payments Corporation of India (NPCI) in its circular suggested that you will be charged 1.1% for payments above Rs 2000. It has been suggested that merchant transactions through UPI may attract Prepaid Payment Instruments (PPI) fees. According to the NPCI circular, you may have to pay 1.1% charge on UPI transactions above Rs 2000. After the arrival of this news, many questions started arising in the minds of the people. The question is, will UPI become expensive for the user after this decision?

Is this charge going to be imposed on all types of online payments or is it going to affect any particular segment?

NPCI has clearly stated in its circular that this change will not affect the customers. Customers will not have to pay any extra charge. There will be no charges for UPI transactions linked to bank accounts. They are absolutely free as before. There will be charges on PPI wallet only, which will have to be paid by the merchant. There is no charge on this for the customers.

Will UPI payment become expensive?

According to the circular issued by NPCI, this charge will be levied on merchant UPI transactions. That is, this charge will not apply to peer to peer (P2P) and peer to merchant (P2M) transactions between banks and prepaid wallets. That means you don’t need to take tension. You can use UPI without any hassle and worry. You will not have to pay any additional fee. Simply put, UPI payment is absolutely free. Nothing has changed for you. Nothing has changed in UPI Bank Transfer.

Who will have to pay the charge?

The new offer is only for Wallets/PPIs. That is, if you do a transaction of more than 2 thousand from the wallet, then you may be charged an interchange fee, but this charge will be taken by the merchant. That is, if you make UPI payment through prepaid payment instrument (PPI) such as wallet, credit card, then you will have to pay interchange fee. This charge will be 1.1% of the total payment made by you to the merchant.

This too when this transaction will be more than 2000 rupees. This is exactly the same as in the case of debit cards and credit cards. Bank to bank transactions are still completely free.
This charge will have to be given to the merchant. Here merchant means in simple language, understand the shopkeeper, whom you are paying through UPI.

Will it affect the general public?

There will be no impact on the common man’s pocket if the interchange charge is levied. The interchange charge is paid by the merchant to the wallet or card issuer. In such a situation, it will not affect the merchant paying less than Rs.2000. According to this circular, if you add money from your bank to your prepaid payment instrument like wallet like Paytm, PhonePe, then a company like Paytm, PhonePe will have to pay 15 basis points for loading the transaction to the remitter bank.

What option to choose?

NPCI has said in its circular that no charges will be levied on peer-to-peer and peer-to-peer-merchant transactions between bank accounts and prepaid payment instruments (PPIs). In the circular, it has been said not to implement this on P2P, P2M transactions. If you pay to a person or a shopkeeper and choose the bank account as the payment option, then you will have to pay some charges. That is, it is better to choose the bank account option while making UPI payment to avoid any kind of charge.

If still there is confusion then understand this

Interchange charges are paid by payment service providers to wallet issuers such as banks. These wallets are exclusively online payment enablers like Paytm, PhonePe, GooglePay, etc. If you understand the news here in one line, then it will not affect you. You will not have to pay any charge on the transaction from the wallet as well. This is entirely a matter between the bank and the merchant.

If you pay through UPI, then you will not be charged anything. Even if you do it through wallet, there will be no charge. This charge is a matter between the shopkeeper for whose scanner you have paid and his bank. It will become expensive for the shopkeeper (merchant) from April 1. When the money goes to the shopkeeper’s bank account through UPI QR, he will have to pay an interchange charge of 1.1% on that amount.

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Due to transfer of money through digital medium through UPI, people’s life has become very easy. Now people are free from the hassle of carrying cash along with credit/debit cards. UPI Transaction in Wrong Account: Due to transfer of money through digital medium through UPI, people’s life has become very easy. Now people are free from the hassle of carrying cash along with credit/debit cards.

Let us tell you that if you have transferred money from UPI platforms like Google Pay, PhonePe or Paytm, then you can get them again. If your money has been transferred to a wrong account, then keep in mind that you should take a screenshot of such payment immediately. This will make it easier for you to register your complaint. Along with this, keep the payment message and ID details safe as well.

After this, register a complaint by going to the app from which the money has been transferred to the wrong ID. If the complaint is not being redressed there, you can complain by going to the bank.

Can help you get your money back in the bank. If the person in whose account the money has gone refuses to give the money, then you can complain about it to the Lokpal. Apart from this, you can also register your complaint by visiting the website of NPCI.

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Apart from this, there is also a limit on the number of daily transactions. Digital transactions have increased very fast in the last few years. In this case, some time ago, financial technology company Worldline India had released a report for the third quarter, in which it was told that people in India are using UPI fiercely through mobile. UPI continues to dominate digital transactions both in terms of value and volume. Both the number and value of transactions through UPI have almost doubled on a year-on-year basis.

If you also use UPI, then you must know that UPI transaction is undoubtedly very convenient, but there is a limit to transact with it.

According to the guidelines of NPCI, you can transact up to a maximum of Rs 1 lakh in a day through UPI. Every bank has a daily limit for UPI transactions.

This limit may vary from bank to bank. Apart from this, there is also a limit on the number of daily transactions, that is, you cannot transact more than that in a day. Know about it here.

Transaction limit of banks

SBI allows you to do transactions up to Rs 1 lakh, which is also the daily limit. Whereas in Canara Bank this limit is only 25 thousand rupees.

ICICI Bank has set a UPI transaction limit and daily limit of Rs 10,000 for its users. Punjab National Bank’s transaction limit is Rs 25,000, while the daily UPI transaction limit is Rs 50,000. Apart from this, the UPI transaction and daily limit is fixed at Rs 1 lakh each in HDFC Bank and Bank of India.

UPI transfer number limit

Apart from the daily transaction limit, there is also a limit on the number of payment transfers through UPI. You cannot transact money more than that limit. To increase the limit, you have to wait for the next 24 hours.

Through Paytm, you can do 5 transactions in an hour and only 20 transactions in a day. At the same time, Google Pay users can do only 10 transactions in a day. If you use PhonePe, then it can be transacted only 10 or 20 times in a day and 20 transactions can be done in a day with Amazon Pay.

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According to the recent decision taken by the Reserve Bank of India (RBI), there will be no fee on UPI for transactions up to Rs 2,000 on the use of Rupay Credit Card. Instructions have been given in this regard in the recently issued circular by RBI.

Let us tell you that the order of the circular came into effect from October 4,
Rupay credit card is in circulation for the last four years. All the major banks of the country are connected to it. RBI’s circular issued on Tuesday (October 4) said, ‘The process of linking the credit card on the app and generating the UPI PIN requires the consent of the customer to enable the credit card in all types of transactions.’

2,000 or less, NPCI said the existing process of the app for international transactions would be applicable to credit cards as well. It also said that zero merchant concessional rate (MDR) will be applicable for this category up to transaction amount of Rs 2,000 or less.

In the information given by RBI, it was said that this circular will be applicable from the date of issue. That is, this rule has come into effect from 4 October. RBI also said that members are requested to take note of this and bring the contents of this circular to the notice of the concerned stakeholders.

RBI Deputy Governor T Ravi Shankar had earlier said, “The purpose of linking credit cards with UPI is to provide a wider choice of payment options to the customer. Presently UPI is linked to savings accounts or current accounts through debit cards.

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According to the recent decision taken by the Reserve Bank of India (RBI), there will be no fee on UPI for transactions up to Rs 2,000 on the use of Rupay Credit Card. Instructions have been given in this regard in the recently issued circular by RBI.

Let us tell you that the order of the circular came into effect from October 4,
Rupay credit card is in circulation for the last four years. All the major banks of the country are connected to it. RBI’s circular issued on Tuesday (October 4) said, ‘The process of linking the credit card on the app and generating the UPI PIN requires the consent of the customer to enable the credit card in all types of transactions.’

2,000 or less, NPCI said the existing process of the app for international transactions would be applicable to credit cards as well. It also said that zero merchant concessional rate (MDR) will be applicable for this category up to transaction amount of Rs 2,000 or less.

In the information given by RBI, it was said that this circular will be applicable from the date of issue. That is, this rule has come into effect from 4 October. RBI also said that members are requested to take note of this and bring the contents of this circular to the notice of the concerned stakeholders.

RBI Deputy Governor T Ravi Shankar had earlier said, “The purpose of linking credit cards with UPI is to provide a wider choice of payment options to the customer. Presently UPI is linked to savings accounts or current accounts through debit cards.

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According to data from the National Payments Corporation of India (NPCI), 6.78 billion (678 crore) transactions took place in September and were valued at Rs 11.16 lakh crore as against Rs 10.73 lakh crore in August.

With UPI, make assured secure payments that are instant, simple, and safe.#UPI #DigitalPayments @GoI_MeitY @_DigitalIndia @DFS_India pic.twitter.com/PnytLRXtXV

— NPCI (@NPCI_NPCI) October 1, 2022

In July, the value of UPI-based digital transactions stood at Rs 10.62 lakh crore. A perusal of other data from the NCPI framework shows that there were 46.27 crore transactions through IMPS, an instant transfer-based payment system, in September as against 46.69 crore transactions in August. A total of 46.08 crore transactions were done through IMPS in July.

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